Reps seek 20 year jail term for bank fraud
The house of Representatives has passed for second reading of a Bill for an Act to amend the bank employees declaration of assets Act.
The sponsor, Mr Francis Ejirogene, said the Bill seeks to increase the punishment of bank staff who are involved in bank fraudulent activities in customers accounts.
According to the lawmaker, this become necessary in view of the rampant cases bank fraud and cybercrime in the country.
Contributing to the debate, a member from Plateau State, Yussuf Gagdi, lamented that bank officials frustrate customers at will due to the absence of legal sanctions.
For the deputy minority leader, Toby Okechukwu, banks should also be held liable for employing a fraudster.
Other lawmakers who contributed agreed that the Bill will bring back confidence in banking across the country.